No Cost-of-Living Adjustment for 2016
Reading Time: 1 MinuteLast Updated: March 17, 2021
Social Security’s annual cost-of-living adjustment (COLA) is an increase in the benefit amount people receive each month. By law, the monthly Social Security and SSI federal benefit rate increases when there is a rise in the cost of living. The government measures changes in the cost of living through the Department of Labor’s Consumer Price Index (CPI-W).
The CPI has not risen since the last cost-of-living adjustment in 2015. As a result, your SSI benefit rate and, for most people, your Social Security benefit amount will stay the same in 2016.
This news isn’t necessarily bad. When inflation stays at the same rate, your cost of living also stays the same. Prices for goods and services, on average, haven’t increased enough to affect the COLA.
Other changes that would normally take effect based on changes in the national average wage index also won’t begin in January 2016. Since there is no COLA, the statute also prohibits a change in the maximum amount of earnings subject to the Social Security tax, as well as the retirement earnings test exempt amounts. These amounts will remain unchanged in 2016. The new fact sheet provides more information on 2016 Social Security and SSI changes.
For additional information about the 2016 COLA, go to www.socialsecurity.gov/cola.
For additional information about changes in the national average wage index, go to www.socialsecurity.gov/OACT/COLA/AWI.html.
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Tags: Cost of living adjustment, Disability, Medicare, SSA, SSI
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Jim Borland, Assistant Deputy Commissioner, Communications
Jim Borland, Assistant Deputy Commissioner, Communications
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fuzzybutts
Wanna bet Israel and the other warmongers get their “raises”?
Robin
This sucks!! The cost of everything has increased!! I bet Congress will get an increase. They always take from the neediest folks!! Lord help us!!!!
Pearlie H.
How is there no increase in the economy, Have you seen the food prices and the cost of living for insurance and other things except gas. We have worked for this money all our lives and we don`t get a raise but you have money to give to the people that just come into the country and have put nothing in but could take out ..I don`t get this also I betcha the government workers will get their raises..I want our cost of living raise..
Ken W.
If we are in such bad shape that we get no COLA on Social Security, what of the politicians and bureaucrats? They should get nothing either. The mismanagement in our government is appalling. Social Security should go back into it’s own untouchable fund and be paid to those who paid into it. Simply sad and angering that conservatives and liberals have allowed this fiasco to occur.
Randy H.
OK the Democrats have proposed to change the way SS works by increasing benefits for almost everyone but those who are well off,,The GOP on the other hand want to Cut the program…So You KNOW who to blame.
Chuck S.
The paltry COLA that I’ve always received on my SSR amounts to 25 or 30 dollars a month. Not a great deal, but I always felt it was the thought that mattered more than the substance. The 5.2% raise that the Congressmen and Senators will get this year, along with all the other government employees, will amount to Thousands of dollars per year for them. It somehow doesn’t seem fair to me that those of us who need it most are disregarded and the people who have been so ineffective and outright negligent at running our country get rewarded. If it doesn’t cost me more to live, why does it cost them more? Just sayin’
JIM C.
Please remember that the senitors, which are Republicans, are the ones that are messing up the works. They obey the GOP, and Religious Right assholes. They couldn’t care less about what the citizens who voted for them feel, or have to say. Blame the right politicians.
Denyse H.
This is horrible !!!!!!!!!!!!!!!!!!! The VERY small amount we get is not to be believed and now the token increase is being taken away. NOTHING (except gas) has decreased in cost. Where do you really get your information from? Are you looking normal American citizens that have worked ALL their live in the U.S.? I don’t believe a word of this. I’m sure we can all guess where the money is going-not to honest Americans.
Thanks for nothing as usual
Lawrence F.
Our politicians will take their 5% though! It is criminal what they are doing. We need a revolution!
tomas
yeah but congress wants a raise dont they. the ones who send billions overseas and let our own people live in poverty while they live it up on the taxpayers dime